The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGNICO EAGLE MINES LTD COM 008474108 73,241 941,094 SH   SOLE   941,094 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 113,906 12,884,173 SH   SOLE   12,884,173 0 0
ALMADEN MINERALS LTD COM CL B 020283305 3,385 3,543,750 SH   SOLE   3,543,750 0 0
AMERICAS GOLD AND SILVER COR COM 03062D100 4,682 1,333,800 SH   SOLE   1,333,800 0 0
APPLE INC COM 037833100 283 2,440 SH   SOLE   2,440 0 0
ARCOSA INC COM 039653100 4,850 110,000 SH   SOLE   110,000 0 0
ARTISAN PARTNERS ASSET MGMT CL A 04316A108 10,137 260,000 SH   SOLE   260,000 0 0
ATLAS CORP SHS Y0436Q109 240 26,806 SH   SOLE   26,806 0 0
AURYN RES INC COM 05208W108 177 90,000 SH   SOLE   90,000 0 0
B2GOLD CORP COM 11777Q209 112,494 17,211,866 SH   SOLE   17,211,866 0 0
BARCLAYS BANK PLC IPTH SR B S&P 06746P621 305 12,250 SH   SOLE   12,250 0 0
BARRICK GOLD CORP COM 067901108 120,635 4,350,972 SH   SOLE   4,350,972 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 9,644 45,292 SH   SOLE   45,292 0 0
BIOGEN INC COM 09062X103 9,078 32,000 SH   SOLE   32,000 0 0
BUCKLE INC COM 118440106 6,525 320,000 SH   SOLE   320,000 0 0
CAL MAINE FOODS INC COM NEW 128030202 6,139 160,000 SH   SOLE   160,000 0 0
CAMECO CORP COM 13321L108 947 93,754 SH   SOLE   93,754 0 0
CF INDS HLDGS INC COM 125269100 170 5,537 SH   SOLE   5,537 0 0
CIRRUS LOGIC INC COM 172755100 3,710 55,000 SH   SOLE   55,000 0 0
CME GROUP INC COM 12572Q105 361 2,158 SH   SOLE   2,158 0 0
COEUR MNG INC COM NEW 192108504 17,641 2,144,452 SH   SOLE   2,144,452 0 0
CORTEVA INC COM 22052L104 445 15,443 SH   SOLE   15,443 0 0
CORVUS GOLD INC COM 221013105 176,632 60,048,446 SH   SOLE   60,048,446 0 0
DENISON MINES CORP COM 248356107 512 920,619 SH   SOLE   920,619 0 0
DIREXION SHS ETF TR DAILY GOLD MINER 25460G880 10,722 564,000 SH   SOLE   564,000 0 0
ELDORADO GOLD CORP NEW COM 284902509 2,980 226,230 SH   SOLE   226,230 0 0
EMX RTY CORP COM 26873J107 8,618 3,276,947 SH   SOLE   3,276,947 0 0
EQUINOX GOLD CORP COM 29446Y502 10,289 681,151 SH   SOLE   681,151 0 0
EXCELLON RES INC COM 30069C801 3,219 833,929 SH   SOLE   833,929 0 0
EXXON MOBIL CORP COM 30231G102 1,109 32,317 SH   SOLE   32,317 0 0
FEDERATED HERMES INC CL B 314211103 7,959 370,000 SH   SOLE   370,000 0 0
FIRST MAJESTIC SILVER CORP COM 32076V103 19,207 1,537,674 SH   SOLE   1,537,674 0 0
FORTUNA SILVER MINES INC COM 349915108 28,447 3,437,542 SH   SOLE   3,437,542 0 0
FRANCO NEV CORP COM 351858105 126,442 921,164 SH   SOLE   921,164 0 0
FRANKLIN RESOURCES INC COM 354613101 732 360,000 SH   SOLE   360,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 200 12,819 SH   SOLE   12,819 0 0
FRP HLDGS INC COM 30292L107 4,167 100,000 SH   SOLE   100,000 0 0
GENTEX CORP COM 371901109 1,545 60,000 SH   SOLE   60,000 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106 58,369 4,672,463 SH   SOLE   4,672,463 0 0
GOLD STD VENTURES CORP COM 380738104 7,103 9,010,500 SH   SOLE   9,010,500 0 0
GOLDEN STAR RES LTD CDA COM 38119T807 1,494 346,600 SH   SOLE   346,600 0 0
GRAFTECH INTL LTD COM 384313508 200 29,234 SH   SOLE   29,234 0 0
GREAT PANTHER MNG LTD COM 39115V101 155 176,334 SH   SOLE   176,334 0 0
HECLA MNG CO COM 422704106 611 903,975 SH   SOLE   903,975 0 0
HELMERICH & PAYNE INC COM 423452101 7,684 524,510 SH   SOLE   524,510 0 0
INDUSTRIAS BACHOCO S A B DE SPON ADR B 456463108 2,681 70,000 SH   SOLE   70,000 0 0
INTEGRA RES CORP COM NEW 45826T301 20,340 5,083,807 SH   SOLE   5,083,807 0 0
INTERNATIONAL TOWER HILL MIN COM 46050R102 79,822 61,152,055 SH   SOLE   61,152,055 0 0
INVESCO DB MULTI-SECTOR COMM AGRICULTURE FD 46140H106 203 13,750 SH   SOLE   13,750 0 0
ISHARES TR 3 7 YR TREAS BD 464288661 360 2,692 SH   SOLE   2,692 0 0
ISHARES GOLD TRUST ISHARES 464285105 527 29,270 SH   SOLE   29,270 0 0
ISHARES SILVER TR ISHARES 46428Q109 473 21,867 SH   SOLE   21,867 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 372 4,303 SH   SOLE   4,303 0 0
KENNEDY-WILSON HOLDINGS INC COM 489398107 9,083 625,529 SH   SOLE   625,529 0 0
KINROSS GOLD CORP COM 496902404 126,266 13,685,672 SH   SOLE   13,685,672 0 0
MAG SILVER CORP COM 55903Q104 210,673 12,701,343 SH   SOLE   12,701,343 0 0
MARCUS & MILLICHAP INC COM 566324109 3,027 110,000 SH   SOLE   110,000 0 0
MAVERIX METALS INC COM NEW 57776F405 82,890 15,763,981 SH   SOLE   15,763,981 0 0
MCEWEN MNG INC COM 58039P107 1,107 1,045,850 SH   SOLE   1,045,850 0 0
NEWMONT CORP COM 651639106 55,611 853,355 SH   SOLE   853,355 0 0
NEXGEN ENERGY LTD COM 65340P106 2,768 1,217,234 SH   SOLE   1,217,234 0 0
NOVAGOLD RES INC COM NEW 66987E206 72,999 6,264,720 SH   SOLE   6,264,720 0 0
NUTRIEN LTD COM 67077M108 960 24,480 SH   SOLE   24,480 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 157,438 13,222,135 SH   SOLE   13,222,135 0 0
PARAMOUNT GOLD NEV CORP COM 69924M109 101 1,062,915 SH   SOLE   1,062,915 0 0
PLATINUM GROUP METALS LTD COM 72765Q882 1,227 611,080 SH   SOLE   611,080 0 0
PRETIUM RES INC COM 74139C102 57,954 4,382,960 SH   SOLE   4,382,960 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 8,163 80,000 SH   SOLE   80,000 0 0
ROYAL GOLD INC COM 780287108 32,645 271,656 SH   SOLE   271,656 0 0
SANDERSON FARMS INC COM 800013104 7,078 60,000 SH   SOLE   60,000 0 0
SANDSTORM GOLD LTD COM NEW 80013R206 25,018 2,964,229 SH   SOLE   2,964,229 0 0
SEABRIDGE GOLD INC COM 811916105 16,808 830,380 SH   SOLE   830,380 0 0
SIBANYE STILLWATER LTD SPONSORED ADR 82575P107 21,878 1,844,209 SH   SOLE   1,844,209 0 0
SILVERCORP METALS INC COM 82835P103 9,671 1,008,334 SH   SOLE   1,008,334 0 0
SILVERCREST METALS INC COM 828363101 156,871 17,640,018 SH   SOLE   17,640,018 0 0
SMART SAND INC COM 83191H107 1,310 1,000,000 SH   SOLE   1,000,000 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105 262 8,088 SH   SOLE   8,088 0 0
SOLARIS OILFIELD INFRSTR INC COM CL A 83418M103 112 17,728 SH   SOLE   17,728 0 0
SPDR SER TR SPDR BLOOMBERG 78468R663 19,556 213,680 SH   SOLE   213,680 0 0
SPROTT FOCUS TR INC COM 85208J109 222 37,382 SH   SOLE   37,382 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 1,574 85,815 SH   SOLE   85,815 0 0
SPROTT PHYSICAL GOLD TR UNIT 85207H104 1,457 96,813 SH   SOLE   96,813 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107 1,171 141,584 SH   SOLE   141,584 0 0
SSR MNG INC COM 784730103 116,152 5,448,427 SH   SOLE   5,448,427 0 0
TECK RESOURCES LTD CL B 878742204 719 51,657 SH   SOLE   51,657 0 0
THOR INDS INC COM 885160101 1,905 20,000 SH   SOLE   20,000 0 0
TRILOGY METALS INC NEW COM 89621C105 1,016 567,456 SH   SOLE   567,456 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 235 5,996 SH   SOLE   5,996 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 5,363 48,600 SH   SOLE   48,600 0 0
WESTERN COPPER & GOLD CORP COM 95805V108 1,526 943,000 SH   SOLE   943,000 0 0
WESTERN DIGITAL CORP COM 958102105 8,772 240,000 SH   SOLE   240,000 0 0
WESTLAKE CHEM CORP COM 960413102 9,799 155,000 SH   SOLE   155,000 0 0
WHEATON PRECIOUS METALS CORP COM 962879102 127,724 2,519,545 SH   SOLE   2,519,545 0 0
YAMANA GOLD INC COM 98462Y100 870 153,200 SH   SOLE   153,200 0 0